Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

The Corn And Ethanol Report: 03/12/19

Published 03/12/2019, 10:34 AM
Updated 07/09/2023, 06:31 AM
CL
-
NG
-
ZC
-
1ZEc1
-

Good Morning!

Weather is now moving into playing a pivotal role as we move closer to Planting Intentions. U.S.-China trade talks just keep investors salivating on positive news and we all are licking our chops for an end game and Chinese negotiators may be playing that card keeping their hand close to their vest. It is in their best interest to have an end game as well. Exports were lower than last week and a year ago. More whispers that crops are improving in the Black Sea and South America regions. Soil saturation is high and with the coming thaw we could see a delay in fieldwork ahead of plantings. And there is talk that funds were more short than anticipated. In the overnight electronic session the May Corn is currently trading at 362 ¼, which is a ¼ of a cent higher. The trading range has been 364 to 361 ½.

On the Ethanol front the April contract is currently trading at 1.296, which is .003 higher. The trading range has been 1.296 to 1.295. 2 contracts traded and Open Interest rose to 1,092 contracts. The market is currently showing 1 bid @ 1.294 and 1 offer @ 1.298. The market is digesting the latest news on the budget calling for a 31% cut in EPA programs and still being tantalized by the U.S.-China trade talks.

On the Crude Oil front the U.S. is withdrawing remaining staff from the embassy in Venezuela with deteriorating conditions in the country. We also have OPEC production cuts making an impact and we are expecting draws on tonight’s API Energy Stocks and Tomorrow's EIA Energy Stocks. In the overnight electronic session the April Crude Oil is currently trading at 5725, which is 46 points higher. The trading range has been 5746 to 5674.

On the Natural Gas front we are expecting a spring tease the next couple of days and then back to average temperatures as we move into shoulder season and the market is acting like it. In the overnight electronic session the April Natural Gas is currently trading at 2.757, which is 1 ½ of a cent lower. The trading range has been 2.786 to 2.752.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.